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Optimal imperfect preventive maintenance policy for equipment leased during successive periods

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  • A. Ben Mabrouk
  • A. Chelbi
  • M. Radhoui

Abstract

In this paper, we consider randomly failing equipment leased several times during their life cycle with a given warranty period. A mathematical model is developed to determine the optimal efficiency levels of preventive maintenance (PM) to be performed on the equipment between successive lease periods, maximising the expected total profit of the lessor over the equipment life cycle. The model considers the expected leasing revenue as well as the equipment acquisition cost and the average PM and repair costs. PM actions allow reducing the age of the equipment to a certain extent with a corresponding cost depending on the PM level adopted. The efficiency of the PM is determinant of the expected revenue during the next lease period. Given a set of K possible PM levels and the number of lease periods n over the equipment life cycle, K -super- n −1 PM strategies are possible. A genetic algorithm is proposed in order to obtain nearly optimal policies in situations where the number of possibilities K -super- n −1 is very high. Obtained numerical results are discussed. Small- and big-size instances of the problem are considered in the case of a service company in the oil and gas industry specialised in leasing specific equipment such as separators, to oil companies for production activities with a limited duration of several months like well testing or short production tests.

Suggested Citation

  • A. Ben Mabrouk & A. Chelbi & M. Radhoui, 2016. "Optimal imperfect preventive maintenance policy for equipment leased during successive periods," International Journal of Production Research, Taylor & Francis Journals, vol. 54(17), pages 5095-5110, September.
    • Handle: RePEc:taf:tprsxx:v:54:y:2016:i:17:p:5095-5110
    DOI: 10.1080/00207543.2016.1146417
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    Cited by:

    1. Xia, Tangbin & Sun, Bowen & Chen, Zhen & Pan, Ershun & Wang, Hao & Xi, Lifeng, 2021. "Opportunistic maintenance policy integrating leasing profit and capacity balancing for serial-parallel leased systems," Reliability Engineering and System Safety, Elsevier, vol. 205(C).
    2. Xia, Tangbin & Dong, Yifan & Xiao, Lei & Du, Shichang & Pan, Ershun & Xi, Lifeng, 2018. "Recent advances in prognostics and health management for advanced manufacturing paradigms," Reliability Engineering and System Safety, Elsevier, vol. 178(C), pages 255-268.
    3. Ben Mabrouk, A. & Chelbi, A. & Radhoui, M., 2016. "Optimal imperfect maintenance strategy for leased equipment," International Journal of Production Economics, Elsevier, vol. 178(C), pages 57-64.
    4. Sharafali, Moosa & Tarakci, Hakan & Kulkarni, Shailesh & Razack Shahul Hameed, Raja Abdul, 2019. "Optimal delivery due date for a supplier with an unreliable machine under outsourced maintenance," International Journal of Production Economics, Elsevier, vol. 208(C), pages 53-68.
    5. Ammar Y. Alqahtani & Surendra M. Gupta, 2017. "One-Dimensional Renewable Warranty Management within Sustainable Supply Chain," Resources, MDPI, vol. 6(2), pages 1-26, April.
    6. Alqahtani, Ammar Y. & Gupta, Surendra M. & Nakashima, Kenichi, 2019. "Warranty and maintenance analysis of sensor embedded products using internet of things in industry 4.0," International Journal of Production Economics, Elsevier, vol. 208(C), pages 483-499.

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